Acting as the farm finance agency, the industrial commission may establish the first -time farmer finance program to encourage first-time farmers to enter into and remain in the livelihood of agriculture and to provide first-time farmers a source of financing at favorable rates and terms generally not available to them. The first -time farmer finance program is established to allow first-time farmers to utilize the tax -exempt financing provided for in the Internal Revenue Code of 1986, and any amended regulations adopted thereunder.
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